[IMGCAP(1)]NEW YORK CITY-Citigroup Global Markets Inc. ismarketing a 47-branch sale-leaseback transaction throughlocally-based Newmark Knight Frank. The properties, which comprise157,312 sf, are all in the metro New York area and includelocations in Manhattan, the Bronx, Brooklyn, Queens, Staten Island,Westchester, Suffolk and Nassau counties.
Kenneth Zakin, senior managing director of NKF, will head thesales team, working in cooperation with Citigroup Global Markets,Citigroup's investment banking division. “The buildings are beingoffered as a package, or as individual properties, or broken upinto several smaller portfolios,” Zakin explains, “and each of themare owned and solely occupied by a long-term net-leased Citibankretail branch.”
[IMGCAP(2)]Zakin tells GlobeSt.com that there is no asking pricefor the portfolio as the deal will be conducted through a biddingprocess. The initial bids are scheduled to be collected by Oct.9.
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